Sinomem: Forming a Falling Wedge

  • Post author:

Sinomem is forming a Falling Wedge and has a risk of breaking down after falling to break the 50D MA resistance (area shaded in green). Critical support at $0.472 which is the wedge support and also 61.8% Fibonacci Retracement Level.

  • Breaking this support will send Sinomem down to $0.223 (also 23.6% Fibonacci Retracement Level).
  • Upside kept at about $0.581, which is the falling wedge’s resistance and also 78.6% FR level.

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Genting Singapore: Trend Reversal!

  • Post author:

Genting Singapore shows a Bearish Engulfing candlestick pattern today. This is a trend reversal pattern after the recent uptrend.

Key level to watch:

  •  Whether Genting Singapore is still able to trade within this short term up trend channel, ie the channel support is not broken.
  • Whether Genting Singapore can bounce back when the stock reaches the 61.8% Fibonacci Retracement Level at about $1.126.

Continue ReadingGenting Singapore: Trend Reversal!